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Economy Styles Flashcards | StudBud
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Economy Styles
Economy Styles
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StudBud Administration
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391 plays
A #SocialStudies Quiz designed to teach the basics of economics
Flashcards
6 cards
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Practice quiz
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Host live
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Questions
6
Answers
1
Trading 10 chickens for one cow is an example of which economy style?
Economy
Traditional
Market
Command
2
Which system is based on private ownership, free trade and competition?
Traditional
Market
Command
Supply and Demand
3
What do you call a system in which people produce, sell, and buy things?
Traditional
Economy
Market
Command
4
There is no money. Goods are traded for one another. Which system does this describe?
Traditional
Market
Command
Economy
5
What determines the price of goods in a MARKET style of economy?
Traditional Style
Supply and Demand
The Government
Farming
6
The system where the central government makes ALL economic decisions is called a what?
Command
Traditional
Economy
Market
